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Car export in April drops 14.37 percent to 98,900 units

Car export for the month of April dropped 14.37 percent to 68,900 units from last April’s 80,400 units, representing the lowest export in 48 months.

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Car export for the month of April dropped 14.37 percent to 68,900 units from last April’s 80,400 units, representing the lowest export in 48 months.

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Mr Surapong Paisitpattanapong, spokesman of the automotive industry of the Federation of Thai Industries noted that the export decline was in line with a drop in car production, with production in April having dropped 12.85 percent to 120,000 units – the lowest production drop in 64 months.

Except for markets in Asia and Australia, car export to the rest of the world dropped in April in line with global economic slowdown.

Domestic car sale for the month of April increased 15.1 percent to 63,200 units compared to 54,900 units recorded for the same period last year, thanks to increased purchasing power from improved farm prices, introduction of new car models and motor exhibitions.

Source: Car export in April drops 14.37 percent – Thai PBS English News

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Trade

Thailand to increase rice exports to 6 million tons this year

National News Bureau of Thailand

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BANGKOK (NNT) – The Commerce Ministry has launched measures to increase rice exports to 6 million tons this year, valued at around 150 billion baht, with Indonesia, China, Bangladesh and Iraq set to be the main markets under government-to-government (G2G) deals.

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Singapore

UK exporters’ use of Singapore as ASEAN’s supply chain gateway boosted by new bilateral trade agreement

Singapore’s role as a hub for UK companies, whether as exporters or investors accessing Southeast Asia’s and broader Asian dynamic economies, was elevated by the new UK-Singapore trade agreement (UKSTA) which came into effect on 1st January 2021.

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UK exporters’ use of Singapore as ASEAN’s supply chain gateway boosted by new bilateral trade agreement

There was much controversy, before and after the United Kingdom’s (UK) Brexit from the European Union (EU), in talk of it adopting a free trade and manufacturing model similar to Singapore’s.

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Economics

Cross-border trade is expected to grow up to 3-6%

National News Bureau of Thailand

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BANGKOK (NNT) – Thailand’s cross-border trade is expected to recover to growth of 3-6% this year, helped by COVID-19 vaccine distribution and the global economic recovery.

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Foreign Trade Department Director-General Keerati Rushchano said cross-border trade, which includes transit trade, is likely to generate 1.36 to 1.40 trillion baht, up from 1.31 trillion baht in 2020.

According to Mr Keerati, the key risk factor that may derail border trade growth is the political chaos in Myanmar that will weaken purchasing power there and cause a delay in goods transport.

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